Sri Lanka gets temporary reprieve on EU trade scheme
[ Reuters ]
A trade scheme that boosted Sri Lanka’s top export, garments, will remain in place while the European bloc completes a human rights probe that could lead to withdrawal of concessionary terms, Sri Lanka said on Tuesday. “We will enjoy the facility until the investigation is over,” S. Ranugge, secretary at the ministry of export development and international trade, told Reuters.The Generalised System of Preferences Plus (GSP Plus) had been due to expire at the end of the year, and the European Union said the rules governing its extension required a certification that Sri Lanka meets certain human rights standards.